Silicon Valley is coming. There are hundreds
of startups with a lot of brains and money
working on various alternatives to traditional
banking. The ones you read about
most are in the lending business, whereby
the firms can lend to individuals and small
businesses very quickly and – these entities
believe – effectively by using Big Data
to enhance credit underwriting. They are
very good at reducing the “pain points” in
that they can make loans in minutes, which
might take banks weeks. We are going to
work hard to make our services as seamless
and competitive as theirs. And we also
are completely comfortable with partnering
where it makes sense.

Jamie Dimon, JPMC

Get your software defined business on, friends.

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